Illinois General Assembly - Bill Status for SB1681
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 Bill Status of SB1681  96th General Assembly

Short Description:  INC TX-RATE DECREASE

Senate Sponsors
Sen. Matt Murphy

Last Action
DateChamber Action
  1/12/2011SenateSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 5/201from Ch. 120, par. 2-201
35 ILCS 5/202.5 new
35 ILCS 5/202.5a new
35 ILCS 5/202.5b new
35 ILCS 5/901from Ch. 120, par. 9-901

Synopsis As Introduced
Amends the Illinois Income Tax Act. Decreases the rate of tax on individuals and on trusts and estates from 3% to 2.85% in 2009, 2.7% in 2010, and 2.5% in 2011 and thereafter. Decreases the rate of tax on corporations from 4.8% to 4.56% in 2009, 4.32% in 2010, and 4% in 2011 and thereafter. Makes corresponding changes. Effective immediately.

DateChamber Action
  2/19/2009SenateFiled with Secretary by Sen. Matt Murphy
  2/19/2009SenateFirst Reading
  2/19/2009SenateReferred to Assignments
  3/4/2009SenateAssigned to Executive
  3/12/2009SenatePostponed - Executive
  3/13/2009SenateRule 2-10 Committee Deadline Established As April 3, 2009
  4/3/2009SenateRule 3-9(a) / Re-referred to Assignments
  1/12/2011SenateSession Sine Die

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